RBI Releases Sixth Bi-Monthly Monetary Policy, key rates unchanged
The Reserve Bank of India’s Monetary Policy Committee presented its last bi-monthly policy review for the current fiscal on 7th February 2018 and kept the repo rate unchanged at 6 %. The reverse repo rate under the LAF (liquidity adjustment facility) remains at 5.75 %, and the marginal standing facility (MSF) rate and the bank rate at 6.25 %.The policy, determined on the basis of global uncertainty and inflation, is coming at a time when there’s a huge volatility triggered by rising inflation and uncertainty over the US Federal Bank rate. Besides domestic inflation touching a 17-month high of 5.21 % against the RBI’s 4 % target, rising crude oil prices and the government’s announcement on MSP (minimum support price) might have also put some pressure on the RBI to keep the repo rate unchanged.
Present key Rates Scenario:
Present key Rates Scenario:
Hardayal Prasad appointed as Managing Director and CEO of SBI Card
Hardayal Prasad has been appointed as Managing Director and CEO of SBI Card, the second largest credit card issuer. Prasad takes over from Vijay Jasuja who retired on January 31. His appointment is effective from February 1, 2018. Prasad joined State Bank of India as a Probationary Officer in 1983, gaining experience in many areas of banking. He has served in several locations spread across different circles and abroad, SBI Card said.
‘Great loss to Kathakali’: Exponent Madavoor Vasudevan Nair collapses on stage, dies
Renowned Kathakali exponent Madavoor Vasudevan Nair passed away in the middle of a performance in Kollam recently. The 89-year old was dancing at Agasthyamcode Mahadeva Temple at Anchal, in Kollam, when he collapsed on stage. He was rushed to a hospital but unfortunately passed away. Vasudevan Nair is a winner of the Padma Bhushan. He was also honored with several other awards, like the Kerala Kalamandalam Puraskaram, Sangeetha Nataka Academy and a fellowship from the Central Government. Fondly called Madavoor, he is a familiar figure among Kathakali lovers and is a well-respected figure in the cultural sphere of the state. He has effortlessly portrayed different veshams (types) in Kathakali – Pacha (Green), Kathi (knife) and Thadi (beard).
Development of Solar Cities scheme: 60 Solar Cities to be developed
The Ministry of New and Renewable Energy under its scheme “Development of Solar Cities” has approved/sanctioned 60 Cities including 13 Pilot and 5 Model Cities up to 12th Five-year Plan period. The Scheme aims at reducing minimum 10% in projected demand of conventional energy at end of five years, through the combination of enhancing supply from renewable energy sources in city and energy efficiency measures. Under it, local Governments are motivated for adopting renewable energy technologies and energy efficiency measures.
President to inaugurate the Mahamastakabhisheka Mahotsav 2018
Held once in 12 years, the Mahamastakabhisheka of Bahubali was inaugurated on 7th February by President Ram Nath Kovind with the lighting of the traditional lamp. Governor Vajubhai Vala, CM Siddaramaiah, former PM HD Deve Gowda and many others were also present on the occasion. President Kovind while addressing the gathering said this place has been a center of religion, spirituality and Indian culture and had been sending across the message of the welfare of mankind. he 2018 ceremony is the 88th in the series that began in 981 AD during the Ganga dynasty. The statue of Lord Bahubali, son of the first Jain Tirthankara Adinath, located on Vindyagiri hill here, was carved from a single rock and is said to be the world’s tallest monolithic statue.
HAL develops first Hawk-i flight
The Hindustan Aeronautics Limited has developed the first flight of Hawk-i with indigenous Real Time Operating System (RTOS). Hawk-i is the first indigenous RTOS developed in India from scratch and certified by Center for Military Airworthiness and Certification (CEMILAC), HAL Chairman T. Suvarna Raju said. The RTOS is the system software which provides a standard run-time environment for real-time applications execution in a safe and reliable manner. The HAL-RTOS supports Integrated Modular Avionics (IMA) architecture. Key features include address, space and time partitioning, priority preemptive process scheduling and health monitoring.
First ever chat based job search app ‘Empzilla’ launched
A chat based job search mobile app ‘Empzilla‘, first ever of its kind in the country, is being launched that will do away with existing limitations of employers and job seekers making selection process quick and cost-effective. The mobile app gets the conversation between employers and job seekers going in seconds and the latter can chat with the potential employer even within his office set up without letting his peers and seniors know the context of the conversation. It also relieves the Human Resource department of an excessive load of mails and the need to download all the profiles which are time-consuming and confusing.
Google India, NCERT Bring ‘Digital Citizenship’ lessons to schools in India
Reiterating its commitment to make the web a safer place for everyone, Google India has recently announced its collaboration with NCERT to integrate a course on “Digital Citizenship and Safety” in the Information and Communication Technology (ICT) curriculum in schools. Students from class I to class XII across 1.4 million schools in India would now learn how to become good and responsible digital citizens, through structured classroom modules on the social, ethical and legal aspects of Internet safety. In addition, Google has also created a curriculum for teachers so that they can help students learn all about digital citizenship in their classrooms.